$BCCI $RLTR Baristas Upgraded to Highest Designation by OTC Markets Providing PINK Current Information Meeting Upcoming Amended SEC Rule15c2-11 Guidelines
SEATTLE, WA / ACCESSWIRE / July 22, 2021 / Baristas Coffee Company/ (OTC PINK:BCCI) has been upgraded by OTC Markets to 'Current Information' the highest of all PINK designations meeting the much stricter upcoming implementation of amended SEC Rule 15c2-11.
OTC Markets Group segments PINK companies based on the information they provide to investors into Current, Limited, or No Information. The Pink Market is for professional and sophisticated investors with a high risk tolerance for trading companies with limited information available and limited regulatory oversight.
The upcoming implementation of amended SEC Rule 15c2-11 will require that all companies quoted on OTC Markets must disclose current information on a continuous basis, effective September 28, 2021. Pink companies will need to update their disclosure to ensure they comply with the new requirements. Alternative Reporting Companies: OTC Markets has updated the Disclosure Guidelines for Alternative Reporting Companies to include all the information required under amended Rule 15c2-11. Companies must follow the Guidelines to be designated "Current Information" or "Limited Information" and remain publicly quoted.
Baristas has now been upgraded to "Current Information' the highest of all designations on the OTC Markets 'PINK' tier. To qualify for Current Information, a non-reporting Pink company must subscribe to the OTC Disclosure & News Service and publish current information pursuant to OTC Markets' Pink Basic Disclosure Guidelines. All current information is made publicly available on www.otcmarkets.com. More information on each of these steps is available as noted below:
Companies will only be processed for 'Current Information' once all required documentation has been submitted:
Financial Statements: Two most recent Annual reports and any subsequent Quarterly Report
Disclosure Statement: Most recent Annual and any subsequent Quarterly Reports
Attorney Letter covering all relevant information for non-audited companies
The Company Profile has been verified through OTCIQ
Barry Henthorn stated: 'Now that the OTC Markets has upgraded BCCI to its highest segmentation under the PINK tier 'Current Information" and we have met the new SEC guidelines for the upcoming Rule 15c2-11, we will be able to openly communicate the progress that the company has made and its plans to further grow the Company. We are very excited about our progress and our future.'
All recently filed financials incorporate an enhanced level of disclosure that is intended to meet the criteria of the highest levels of the OTC Markets and beyond. Investors are strongly advised by OTC Markets to proceed with caution and thoroughly research companies before making any investment decisions.